- For several of us at Evolutix this market is special because we have seniors in our lives for whom we want to provide the solutions that enhance their quality of life by allowing technology to function in non-intrusive yet supportive ways that reduce the risk of injury and increases the level of convenience for these people we love and care for.
- There was a time when senior living housing was a depressing and sad place to visit. That old stereotype has been replaced with housing options across a continuum of care that caters to people of all ages and varying levels of assistance. Below is a table from the 2016 CBRE Senior Housing Market Insight report which effectively describes the continuum of care and the types of facilities typically used.
|Building Facility||Similar to apartments but may have special access and common area designe.|
|Ideal Building Size||60 to 200 Units.|
|Resident Entry Age||55 to 75|
|Percent Revenue Form Services||0%|
|Typical Services Provided||Organized social activites|
|Average Length of Stay||5 to 12 Years|
|Average Monthly Rent||…|
|Trailing 43 Quenler Avg. Stabilize Occupancy / Avg. Currenty Quarter Stabilized Occupancy||…|
|Total Units/Beds in Inventory||…|
|Number of Units/Beds Under Construction||…|
|Construction vs Inventory||…|
|Penetretion Rate of 75+ Households||…|
|Independent Living||Assisted Living||Memory Care|
|Similar to apartments but has commercial kitchen,dining room and addiyional common area amenitiesto apartments but has commercial kitchen,dining room and addiyional common area amenitiesto apartments but has commercial kitchen,dining room and addiyional common area amenities.||Most units do not have a full kitchen, only dorm room size refrigration and microwave. Many units are studios.||Units do not have a full kitchen, only dorm room size refrigration and microwave. Many units are studios.|
|100 to 150 Units||80+ Units||24 to 36 Units|
|75 to 84(avg.80.6)||75 to 85(avg.87)||Included with assisted living|
|45%||65%||Included with assisted living|
|Restaurent-style dining, social activites, wekly houskeeping, loundry and transporatation||Assisted living Services plus special behavios/ memory care, secured access only.||Assisted living Services plus special behavios/ memory care, secured access only.|
|1.1 to 1.6 Years||1.1 to 1.2 Years||1.2 to 3.4 Years|
|90.1% / 91.8%||90.4% / 90.3%||90.4% / 88.7%|
|5.7% L/4.2% CCRS||4.3%||Included with assisted living|
|Units resemble hotel rooms and many rooms have shared occupancy|
|120 Beds (70 Units)|
|80 to 90|
|Assisted living Services plus administration of medication, 24 hour care bt RA,RN licensod personnel.|
|30 Days to 2 years|
|89.1% / 87.2%|
- We are keenly aware of the knowledge that many 50+ folks are choosing to downsize and move into the ‘multi-family senior apartments’ mentioned in the table above. Most of these folks have been using technology for a long time and have high expectations of the degree of technology integrated into the facilities they choose to move to. Many of those same people are also dealing with the more complicated choices available for their parents.
- In aggregate, there are close to 1.5 billion older adults and people living with disabilities in the world today, a market segment expected to grow to become nearly 28% of the world’s population by 2050, that’s an enormous segment of society currently underserved by technology.
- Most of the people that are now considering Senior Living options for themselves or their parents are quite technology savvy, and they expect the facilities they’re considering to at least be technology friendly.
- The challenge is that some of these people technophiles and love technology and all it can do to simplify life but these facilities cannot go overboard because many others would describe themselves more as technophobes or luddites and consider it a complete waste of money. There are still many seniors who were not raised with technology and have no interest or aptitude to learn it.
- So here is the Technology dilemma: What are the right investments in technology? What amenities, services and technology will make meaningful improvements in the ‘quality of life’ of Residents and their guests. What are the best ways to engage with the residents? How will we fund those improvements?
- The options appear perplexing, especially when you think of it in the context of seniors who may not be into technology. Until now, there was no integrated solution that makes it easy for technophobes to get the benefits of technology without learning how it works.
- At Evolutix we help Senior Living facilities across the continuum of care deliver Intelligent Living Environments that engage the residents and deliver memorable experiences.
- Residents will talk about these experience amongst their fellow residents, family members and prospective future residents.
- Evolutix delivers projects that fund themselves from savings. Owners say they like the Feature Rich and Future Proof Amenities that the EvoPad Resident Engagement platform delivers, but what they like best is the Persistent Reductions in Energy Use and Operating Costs!
- Our most recent innovation is the EvoPad Resident Engagement platform – it integrates the latest in smart technologies into a single responsive platform, enabling smarter living environments and healthier lives, while also fostering family and community engagement for residents of senior living facilities.
- EvoPad is a simply elegant, yet powerful interface that is at the heart of the intelligent living environment and lets residents control absolutely everything they need to enjoy a modern, independent and self-determined life, straight from any mobile device (iOS/Android Smartphone or tablet) – anytime and anywhere, all with a mere touch or swipe of the screen. With a single touch, residents can control their apartments, stay connected with loved ones through photo sharing or video chats, and stay more engaged in community activities through event and activity calendars and newsletters.
- The EvoPad Resident Engagement Platform is a comprehensive solution that can be deployed as independent elements or integrated solutions. They are modular and can be enhanced/expanded over time as needs and funds dictate.
- EvoPad benefits operators of senior living communities by allowing them to provide the best in care and hospitality with value-added amenities, while increasing revenues and lowering costs.
- Revenues increase from uptake in revenue producing services, and the platform offers potential for advertising and promotion.
- Reduction in operating costs from energy savings, reduced downtime, improved system efficiency, data, tools and information to streamline staff and much more.
- Increased Net Operating Income and Increased Property Valuation.
- The “Base” system is the energy management as it creates the most compelling ROI and creates the ZigBee communications backbone for the other technologies to communicate over. This way these sensors and controllers do not in any way detract from your WiFi system.
- At minimum, the Base system controls the Heating, Ventilation & Air Conditioning (HVAC) system, which typically yields a project that pays for itself in reduced energy use in approximately 3-years. The Base system can be enhanced to include Control of in-room Technologies such as Lighting, Shades & Drapes, Integration of electronic door-locks, Television, Video Intercom, as well as integration with revenue generating Facility Services (event schedulers, service requests, ticketing systems, messaging, restaurants, gyms, spas, etc.) as well integration with other amenities, such as Learning Management Systems, or Digital Bulletins, Activity Calendars and Menus, Music, Movies and so much more.
- The Base System is designed to offer amenity and convenience when the Resident is at home, and save energy when the rooms are vacant. It generates an attractive ROI and controls energy use only when the resident is not home, and thus saves money without affecting the resident’s experience.
Value for the Resident
- Monitor & Control: Residents can control absolutely everything they need to enjoy a modern, independent and self-determined life, Control the TV, temperature, ventilation levels, lights, draperies and shades from EvoPad or other mobile device.
- Information: Information about the community, the property, residents, guests, pets, vehicles, etc.
- Valet: Request car. Request transportation services (taxi, limo, etc.). Luggage or assistance with groceries or other car services (wash, wax, detailing, etc.).
- Concierge & Vendor Services: Coordinate requests for services (eg. in-house concierge or approved service providers (eg. dog walking, housekeeping, dry cleaning, laundry, window-washing, pest control, reservations, or car service.). Schedule massages, shoe polishing, and other personal services. Request and schedule cleaning and at-home services for residence.
- Community: Classifieds, Planned Maintenance, Gate Security, Community Phone Book/ Messaging.
- Activities & Facilities: View activities provided in and around your building such as classes, workshops, Dancing Entertainment, Field Trips, Fitness, Karaoke, Outdoor excursions, and Current and upcoming special events. Schedule amenities such as tennis courts, racquetball courts, Spa sessions, golf, etc.!
Benefits for Owner
- Increased Revenue: Revenues increase from uptake in revenue producing services, and used responsibly, the platform offers potential for advertising and promotion.
- Reduced Operating Costs: Reduction in operating costs from energy savings, reduced downtime, improved system efficiency, data, tools and information to streamline staff and much more.
- Increased Property Value: Increased Net Operating Income from increased revenue and decreased operating expenses.
- Happy Residents: Residents feel self-empowered. Engaged Residents and Staff.
- Happy Staff: Staff receives data which helps them be more productive and effective.
- Reduced Injuries and frustration: Of residents and staff, reaching for cords to open/close curtains or to plug in lamps, confusion about which lamp switch controls which lamps.
Benefits for Property Management
- Front Desk: Log-in visitors, guests and issue special permissions. Key management for resident keys and property keys. View resident and tenant information. Receive valet requests. Create incident reports. Have a common shift-notes section for information pertinent to various shifts.
- Receiving Department: Package Logging and automatic resident notifications. Contractor Check in and Badging (with vendor management). Move-in Schedule management.
- Maintenance & Support: Maintenance Service Requests & Reports. Recurring Tasks / Preventative Maintenance (mobile) app. Work Order Management. Inventory Control.
- Property Management Company: ntegration into popular accounting systems. Complete private-label solution to complement corporate identity. Simple training across departments with unified platform for maintenance, access control, management, concierge services, amenities administration and more.
- Resident HOA Management: Resident/Tenant/Owner Information. Automated Email, fax or SMS Notifications. Store resident documents (E-File). Prepare and send notifications and violations via email, fax or mail.
- Administration: Maintain Resident/Tenant/Owner Database. Communicate via email, fax, message board, or SMS any events or activities throughout the property or in other facilities. Manage violations, escalations and fines. Accept credit card payments locally for FOBs, ID cards, parking spaces, etc. Manage the digital message board right from the administration console. Post maintenance schedules or other important information in electronic calendar. Manage facility reservations, accept payments for cleaning, rental & other fees. Complete history and audit trails for all activity.